TORONTO, May 25, 2023 /PRNewswire/ -- Private AI, a leading provider of data privacy software solutions, and Replica Analytics Ltd., an Aetion® company, the leading Synthetic Data Generation technology provider for the healthcare industry, are pleased to announce a new partnership. The need for a privacy-preserving solution in healthcare is urgent and this strategic partnership aims to provide a comprehensive solution for healthcare's data privacy and security challenges.
Replica Synthesis 3.0, Replica Analytics' pioneering software generates synthetic structured data, in the place of real data, making healthcare data safe to use in medical research and for other valuable insights. Private AI's industry-leading technology accurately detects and removes personally identifiable information from structured, semi-structured, and unstructured data - all of which are prevalent in the healthcare industry.
"By joining Private AI's unique technology with Replica Analytics' solution, we are now able to tackle the challenge of unstructured text and offer a more comprehensive solution to our global clients," said Dr. Khaled El Emam, Replica Analytics' SVP and GM, who has been developing and deploying privacy enhancing technologies for two decades. "Our companies share a deep commitment to privacy and to using data for good. Working together, we will make richer datasets available, which is essential for health research and analytics, while continuing to protect privacy."
"We are thrilled to partner with Replica Analytics and expand our cutting-edge data privacy solutions further into the healthcare industry through Replica Analytics and, in turn, expose their synthetic structured data generation product to other verticals," said Patricia Thaine, CEO, and Co-Founder of Private AI. "With Replica Analytics' synthetic data generation solutions, we can help our clients to create safe and secure data sets for tasks in which maintaining accurate statistical distributions of personally identifiable information are key."
This partnership will enable healthcare organizations to extract valuable insights from their multi-modal data while ensuring compliance with HIPAA regulations and maintaining the highest levels of privacy and data security. The two companies aim to make healthcare data available for research and development while preserving individual privacy rights.
Founded in 2019 by privacy and machine learning experts from the University of Toronto, Private AI's mission is to create a privacy layer for software and enhance compliance with current regulations such as the GDPR. Identifying, reducing and removing privacy risks using AI, Private AI allows companies to unlock the value of the data they collect - whether it's structured or unstructured data. Private AI is backed by M12, Microsoft's venture fund, and BDC, and has been named as one of the 2022 CB Insights AI 100, CIX Top 20, Regtech100, and more. Learn more at: https://www.private-ai.com/
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Replica Analytics Ltd. is the premier science-based synthetic data generation technology provider to the healthcare industry. The company is a pioneer in the development of unique technologies for generating privacy-protective synthetic data that maintain the statistical properties of real-world data (RWD). The company was acquired in late 2021 by Aetion®, the leading regulatory-grade real-world evidence (RWE) technology provider. Replica Synthesis software provides a full suite of synthetic data generation and evaluation capabilities that can solve multiple grand challenges facing the life sciences industry, and health research in general. For more information, visit: https://replica-analytics.com/.
Aetion Inc. is a healthcare analytics company that delivers real-world evidence for the manufacturers, purchasers, and regulators of medical treatments and technologies. The Aetion Evidence Platform® analyzes data from the real world to produce transparent, rapid, and scientifically validated answers on safety, effectiveness, and value. Founded by Harvard Medical School faculty members with decades of experience in epidemiology and health outcomes research, Aetion informs healthcare's most critical decisions—what works best, for whom, and when—to guide product development, commercialization, and payment innovation. Learn more at aetion.com and follow us at @aetioninc.
Media Contact: Replica Analytics: media@replica-analytics.com; Private AI: Patricia Graciano, patricia.graciano@private-ai.com
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